Social Security is a Ponzi Scheme and Today’s Retirees Passed the Losses To Us
DID YOU KNOW THAT SOCIAL SECURITY IS A PONZI SCHEME AND TODAY’S RETIREES WERE CONNED. BUT INSTEAD OF DEALING WITH THE CONSEQUENCES OF THEIR MISTAKE, THEY’RE PASSING THE LOSSES ON TO THE CURRENT GENERATION.
“Social Security was established on the elitist premise that working-class people couldn’t be trusted to save for their own retirements…[It] was initially sold to the public as being an insurance program and the taxes paid into it were referred to as premiums into …a massive trust fund…The insurance concept was just a con to get the public to support the program. The government spent every dime of the premiums the moment they were collected, using accounting gimmickry…the Social Security trust fund saves absolutely nothing.” —Peter Schiff